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Automotive Solenoid Market Share

Report ID: GMI11955
Published Date: Oct 2024
Report Format: PDF

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Automotive Solenoid Market Share

Global Automotive Solenoid Company Market Share, 2023

Infineon Technologies AG, Eaton Corporation, and Bosch GmbH collectively held approximately 12% share of the automotive solenoid industry in 2023. Infineon is developing high-performance solenoids integrated with semiconductor solutions to enhance vehicle efficiency and reliability. The company focuses on electric vehicle (EV) applications, leveraging its expertise in power electronics and sensors to create solenoids that ensure precise control in transmission, braking, and fuel systems. Additionally, Infineon prioritizes sustainability by focusing on energy-efficient designs in automotive solenoid technology.

Eaton is driving innovation in solenoid technology, targeting fuel efficiency and emissions control for both internal combustion engines and hybrid/electric vehicles. The company is expanding its product range with advanced solenoid solutions for engine management, transmission, and fluid control systems. Furthermore, Eaton is investing in R&D to enhance durability and performance, while also seeking OEM partnerships to broaden market penetration.

Bosch is concentrating on high-precision solenoids to enhance vehicle performance, particularly in fuel injection and transmission systems. The company is integrating smart technologies into its solenoids to improve response times and reduce energy consumption. Bosch is also leading innovations for EV applications, utilizing its automation and electrification expertise to develop solenoids optimized for electric and hybrid vehicles.

Automotive Solenoid Market Companies

Major players operating in the automotive solenoid industry are:

BorgWarner
Bosch
Continental
Denso
Eaton
Hitachi Astemo
Infineon Technologies
Mahle
Schneider Electric
Valeo

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The global market for automotive solenoid was reached USD 4.7 billion in 2023 and is projected to grow at a CAGR of 7.1% from 2024 to 2032, driven by the increasing adoption of electric and hybrid vehicles (EVs and HEVs).

The passenger vehicles segment accounted for over 65% of the market share in 2023 and is expected to exceed USD 5.5 billion by 2032, due to the high volume of global vehicle sales in regions like Asia-Pacific, North America, and Europe.

The fluid control segment held around 53% of the market share in 2023, as solenoids are essential for managing fluid-based systems like fuel injection, transmission, ABS braking, and HVAC, which are crucial for vehicle performance and efficiency.

The Asia Pacific region accounted for over 45% share of the automotive solenoid market in 2023 and is expected to exceed USD 4 billion by 2032, due to its large automobile production and consumption, especially in EVs.

Key players in the automotive solenoid industry include BorgWarner, Bosch, Continental, Denso, Eaton, Hitachi Astemo, Infineon Technologies, Mahle, Schneider Electric, and Valeo.